The Bank of New York Appointed Custodian by Idaho State Treasurer
NEW YORK, November 27, 2006 -- The Bank of New York Trust Company, N.A., a wholly owned subsidiary of The Bank of New York Company, Inc., has been appointed custodian for approximately $3 billion in assets for the State of Idaho Treasurer's Office. The Bank will provide custody services for the Treasurer's operating accounts and its local government investment pool.
Ron G. Crane, Idaho State Treasurer, said, "The Bank of New York has a demonstrated ability to understand and respond to the specific requirements of public funds like ours. We look forward to building a long partnership with the Bank as it provides the high quality custodial and related securities services for which it is well-known."
Patrick E. Curtin, executive vice president of investor services at The Bank of New York, said, "As one of the largest securities services providers in the world, we have the experience and expertise to meet the unique needs of the State of Idaho. We will provide an integrated securities servicing solution that allows the Treasurer's Office to fully focus on managing its assets and achieving its revenue projections."
The Bank of New York is one of the world's leading custodians with over $12 trillion in assets under custody and administration.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and private banking. The Company's extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
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